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Summary

Learn economics through real business examples. Hubbard/O'Brien explains the basics of economics by demonstrating how real businesses use economics to make real decisions everyday. This is something all readers can connect to, as they encounter businesses in their daily lives. And regardless of future career path-opening an art studio, doing social work, trading on Wall Street, working for the government, or bartending at the local pub-readers will benefit from understanding the economic forces behind their work.

Table of Contents

Part 1: IntroductionChapter 1: Economics: Foundations and Models Chapter 2: Trade-offs, Comparative Advantage, and the Market System Chapter 3: Where Prices Come From: The Interaction of Demand and Supply Chapter 4: Economic Efficiency, Government Price Setting, and TaxesPart 2: Markets in ActionChapter 5: Externalities, Environmental Policy, and Public Goods Chapter 6: Elasticity: The Responsiveness of Demand and Supply Chapter 7: The Economics of Health Care Part 3: Firms in the Domestic and International EconomiesChapter 8: Firms, the Stock Market, and Corporate Governance Chapter 9: Comparative Advantage and the Gains from International Trade Part 4: Microeconomic Foundations: Consumers and FirmsChapter 10: Consumer Choice and Behavioral Economics Chapter 11: Technology, Production, and Costs Part 5: Market Structure and Firm StrategyChapter 12: Firms in Perfectly Competitive Markets Chapter 13: Monopolistic Competition: The Competitive Model in a More Realistic Setting Chapter 14: Oligopoly: Firms in Less Competitive Markets Chapter 15: Monopoly and Antitrust Policy Chapter 16: Pricing Strategy Part 6: Labor Markets, Public Choice, and the Distribution of IncomeChapter 17: The Markets for Labor and Other Factors of Production Chapter 18: Public Choice, Taxes, and the Distribution of Income